GBPUSD – Flat
GBPUSD is on a uptrend. As we can see on the chart above, the market formed an ascending channel from,1.2190 to 1.2405 which is a reversal pattern. Since the market broke out of the lower trendline of this channel the price has been moving impulsively to the downside. Again, the market broke out of a major zone/support level (1.2191) impulsively and it’s currently correcting to this zone before dropping. The market has been moving in the form of an ascending channel from 1.1960 up to 1.2191. I expect this pair to drop up to 1.1189. You can place a sell order now.
Trade Recommendations:
We’re short
You may check other analytical reviews on FreshForex website. Source: freshforex.com.
